Now, as the bullish trend continues the question is, "Will LTC flip XRP?".The Halving Event.
Luke Martin, a technical analyst, explained that LTC has the potential to go "Higher than the recent upswing" as the halving event nears.
As Litecoin continues outperforming the majority of crypto assets, it has managed to climb up the market capitalization ladder and position itself at number four just below Bitcoin, Ethereum, and XRP. Financial Survivalism, a cryptocurrency analyst, revealed that LTC could peak by doubling its price just a few days before the halvening event, which could allow it to flip over XRP. But, is a 100 percent surge from current levels possible?
A bullish impulse that allows LTC to move above current levels could take it a step closer to overtake XRP. As long as Litecoin stays above $100, the upward momentum will continue, but a break below this level could trigger a significant correction down to $70-$60.The "Flippening".
For the "Flippening" to happen XRP will have to remain under the current price levels or suffer a significant drop in market valuation while LTC keeps going up.
Under this theory, Litecoin will have to be trading above $225 in order to overtake XRP. Although there could be a "Flippening" between LTC and XRP, both scenarios presented suggest that XRP could soon experience a massive upswing despite any short-lived pullbacks.
Will LTC flip XRP? Under the current market conditions, it seems unlikely that Litecoin will overtake XRP to position itself as the number three cryptocurrency based on market capitalization.
The only way that can happen is if LTC enters an extremely speculative period of volatility as its halving approaches while XRP's price drops.
Even though the positive sentiment around LTC seems to be increasing, the halving could actually be seen as a 'take profit' point for many investors, which could significantly drop its market valuation, as it happened in the last block rewards reduction.
XRP could be about to go through a rally that will increase its market capitalization making it harder for Litecoin to surpass it.
Could Litecoin overtake XRP before the halving?
Publié le Jun 11, 2019
by Cryptoslate | Publié le Coinage
Coinage
Mentionné dans cet article
Nouvelles récentes
Voir tout
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.